Prophecy Resource Corp is focused on acquiring base and precious metal exploration properties in British Columbia. It has an option to earn a 60% interest in the Okeover copper-molybdenum property from Eastfield Resources by spending $1 million on exploration and making cash payments totaling $110,000. Exploration at Okeover in 2007 included drilling at the North Lake and South Breccia zones, expanding known mineralization. Drilling in 2008 further expanded the North Lake zone, including one hole intersecting 45.5 meters grading 0.33% copper. Prophecy plans additional drilling to further define resources at Okeover.
Prophecy Resource Corp is focused on acquiring and exploring base and precious metal properties in British Columbia.
In the first quarter of 2008, the company spent $13,798 exploring its primary property, the Okeover copper-molybdenum
project. Exploration at Okeover in 2007 included expanding the existing North Lake resource zone through drilling and
discovering a new zone of mineralization at the South Breccia area through drilling. Prophecy plans to continue expanding
resources at North Lake and exploring the potential of the South Breccia discovery through additional drilling in 2008. As a
junior exploration company, Prophecy's level of operations is determined by its available
- Prophecy Resource Corp is focused on acquiring and exploring base and precious metal properties in British Columbia.
- In the three month period ended December 31, 2007, Prophecy spent $247,022 exploring its flagship Okeover copper-molybdenum property.
- Drilling at Okeover in 2007 expanded the known North Lake Zone and identified new mineralization at the South Breccia Zone.
Prophecy Resource Corp is focused on acquiring base and precious metal exploration properties in British Columbia. It obtained an option to earn a 60% interest in the Okeover copper-molybdenum property from Eastfield Resources Ltd. Prophecy conducted drilling programs at Okeover in 2007 and 2008 that expanded the known mineralized area at the North Lake Zone, with highlights including 45.5 meters grading 0.33% copper. Prophecy has now earned a 60% interest in the Okeover property by spending over $1 million in exploration and intends to form a joint venture with Eastfield for further exploration and development.
Prophecy Resource Corp. is focused on acquiring base and precious metal exploration properties in British Columbia. In 2008, the company conducted drilling programs at its Okeover copper-molybdenum property, located north of Powell River, BC. Drilling expanded the known mineralized area at the North Lake Zone and intersected intercepts grading up to 0.41% copper and 0.001% molybdenum over 12 meters. Prophecy has now earned a 60% interest in the Okeover property from Eastfield Resources Ltd. by spending over $1 million on exploration as required.
Foundation Resources is a publicly traded mineral resource exploration company trading on the Toronto Stock Exchange under the symbol (FDN:TSX).
Developing high potential gold area on the Coldstream property - host of past producer East Coldstream. In addition, it is adjacent to a 43-101 Compliant Inferred Resource of 1.5 million ounces of gold and located in a well known area for gold. Xstrata holds the ownership of ground along the same belt - further confirming the potential of the region.
This document discusses silica sand, its properties, reserves, production, applications, mining, processing, and health hazards in Jordan. It begins by defining silica sand as quartz sand composed primarily of silicon dioxide (SiO2). It then discusses Jordan's silica sand reserves located in various areas like Ras En Naqb and Qa'a Disi. Production and consumption of silica sand in Jordan from 2000-2004 is presented. Applications of silica sand include uses in glass, construction, electronics, and oil industries. The mining process involves surface quarrying while processing involves steps like screening and magnetic separation to obtain high purity quartz concentrate. The main health hazard of silica dust is silicosis, a serious
Commerce Resources Corp. (TSXv: CCE) announced that the results from the second hole of the 2010 drilling program at the Eldor Project in Quebec, has further confirmed the potential for a significant new, and large tonnage, rare earth element ("REE") discovery at the Ashram Rare Earth Zone.
Prophecy Resource Corp is focused on acquiring and exploring base and precious metal properties in British Columbia.
In the first quarter of 2008, the company spent $13,798 exploring its primary property, the Okeover copper-molybdenum
project. Exploration at Okeover in 2007 included expanding the existing North Lake resource zone through drilling and
discovering a new zone of mineralization at the South Breccia area through drilling. Prophecy plans to continue expanding
resources at North Lake and exploring the potential of the South Breccia discovery through additional drilling in 2008. As a
junior exploration company, Prophecy's level of operations is determined by its available
- Prophecy Resource Corp is focused on acquiring and exploring base and precious metal properties in British Columbia.
- In the three month period ended December 31, 2007, Prophecy spent $247,022 exploring its flagship Okeover copper-molybdenum property.
- Drilling at Okeover in 2007 expanded the known North Lake Zone and identified new mineralization at the South Breccia Zone.
Prophecy Resource Corp is focused on acquiring base and precious metal exploration properties in British Columbia. It obtained an option to earn a 60% interest in the Okeover copper-molybdenum property from Eastfield Resources Ltd. Prophecy conducted drilling programs at Okeover in 2007 and 2008 that expanded the known mineralized area at the North Lake Zone, with highlights including 45.5 meters grading 0.33% copper. Prophecy has now earned a 60% interest in the Okeover property by spending over $1 million in exploration and intends to form a joint venture with Eastfield for further exploration and development.
Prophecy Resource Corp. is focused on acquiring base and precious metal exploration properties in British Columbia. In 2008, the company conducted drilling programs at its Okeover copper-molybdenum property, located north of Powell River, BC. Drilling expanded the known mineralized area at the North Lake Zone and intersected intercepts grading up to 0.41% copper and 0.001% molybdenum over 12 meters. Prophecy has now earned a 60% interest in the Okeover property from Eastfield Resources Ltd. by spending over $1 million on exploration as required.
Foundation Resources is a publicly traded mineral resource exploration company trading on the Toronto Stock Exchange under the symbol (FDN:TSX).
Developing high potential gold area on the Coldstream property - host of past producer East Coldstream. In addition, it is adjacent to a 43-101 Compliant Inferred Resource of 1.5 million ounces of gold and located in a well known area for gold. Xstrata holds the ownership of ground along the same belt - further confirming the potential of the region.
This document discusses silica sand, its properties, reserves, production, applications, mining, processing, and health hazards in Jordan. It begins by defining silica sand as quartz sand composed primarily of silicon dioxide (SiO2). It then discusses Jordan's silica sand reserves located in various areas like Ras En Naqb and Qa'a Disi. Production and consumption of silica sand in Jordan from 2000-2004 is presented. Applications of silica sand include uses in glass, construction, electronics, and oil industries. The mining process involves surface quarrying while processing involves steps like screening and magnetic separation to obtain high purity quartz concentrate. The main health hazard of silica dust is silicosis, a serious
Commerce Resources Corp. (TSXv: CCE) announced that the results from the second hole of the 2010 drilling program at the Eldor Project in Quebec, has further confirmed the potential for a significant new, and large tonnage, rare earth element ("REE") discovery at the Ashram Rare Earth Zone.
When sixteen year old Claire Wallhart discovers that she is a Night Hunter, her world is turned upside down. With the help of her instructor. Erik, she will fight off the evil creatures of the night in order to protect all man kind.
El documento discute tres posiciones sobre la definición de salud y enfermedad: biologista, ecologista y social. Cristina Laurell propone una posición social donde la salud-enfermedad es un problema colectivo determinado por procesos sociales. Define la enfermedad como manifestación de dichos procesos sociales que afectan las relaciones entre huésped, agente y ambiente. El objeto de estudio son grupos construidos por características sociales más que biológicas.
This short document contains inspirational quotes about love and living life to the fullest. It advises the reader to not regret their actions as everything helps shape who you become. Additionally, it encourages pursuing happiness, spending time with those who bring joy, laughing frequently, and embracing love for as long as one is alive.
The document introduces the Guitar Musicaid Sliderule, an instructional tool for guitar players. It contains a guitar fingerboard card and slider that reveals note names, fret positions, scale fingerings, key signatures, and chord notes. Users can select a scale and see the fret starting position and successive notes. The sliderule helps players of all ages and abilities learn notes and scales easily. It is priced at $15.99 and available at several Guitar Center locations. In summary, the sliderule is a learning tool that provides a quick way for guitarists to master their instrument and has long-term appeal.
This document discusses algorithms and some basic algorithms used in computer science. It begins by defining an algorithm as a step-by-step method for solving a problem or completing a task. It then describes three common constructs used in algorithms: sequence, decision, and repetition. The document also discusses representations of algorithms using UML diagrams and pseudocode. Finally, it provides examples of basic algorithms like summation, product, and finding the smallest/largest values; and describes the general logic and structure of algorithms for addition, multiplication, and minimum/maximum calculations.
This document contains a Bahasa Melayu exam with multiple sections. Section A contains an image and instructions to write 5 sentences describing the bus stop scene. Section B asks the student to choose one of three essay prompts and write a response of at least 80 words. The prompts are about a school carnival, ways to respect teachers, or an essay ending with a given sentence about realizing teachers care about students. Section C instructs the student to write 4 moral values learned from a given excerpt in under 50 words per value.
This document provides information about a diploma in educational leadership and management from Dar-e-Arqam School in Abbottabad, Pakistan. The diploma aims to equip students with knowledge of educational management and leadership, enable them to apply research and theory to improve their institutions, and allow professional development through reflection. The document outlines several topics that will be covered in the program, including leadership styles, building a conducive learning environment, managing co-curricular activities, human resource management, and developing a strategic vision.
GOLD (Girlguiding Overseas Linked with Development)clare-beorhte
GOLD (Guiding Overseas Linked with Development) is a 3-4 week team project for Girlguiding UK members aged 17-30 to work with partner organizations in countries around the world. Projects focus on training leaders, starting new units, environmental work, teaching English, and more through guiding. Participants gain international experience, friendship, independence and teach/learn skills through teamwork and experiencing a new culture while making a difference. The process involves applying through INTOPS, fundraising, briefings and project planning.
Disinvestment refers to the selling or liquidation of assets or subsidiaries by an organization or government. The key objectives of disinvestment include reducing financial burden on the government, improving public finances, introducing competition, increasing growth, and encouraging wider share ownership. The Indian government initiated disinvestment in 1991 as part of economic reforms to address fiscal deficits and poor performance of public sector enterprises. A series of committees were formed to oversee the disinvestment process and make recommendations. Disinvestment involves reducing government stake while retaining control, while privatization transfers majority ownership and management control to private entities.
Inspired by Steve Ballmer's performance I decided to give an overview of different types of software engineers' characters. Various advices for self-improvement were also provided. Presented at local IT event - IT Weekend.
DISCLAIMER: All images were found either via Google Image Search, or on flickr.com
The passage discusses the importance of summarization for processing large amounts of text data. It notes that automatic summarization systems aim to condense long documents into shorter summaries while maintaining the most important concepts and entities. The challenges of building such systems include identifying the most salient pieces of information, organizing them coherently, and presenting the summary using natural language.
Permaculture dissertation 'A garden for the future'Leen Gorissen
We need to rethink the way in which we produce food. Permaculture designs edible systems in harmony with #nature instead of at the expense of nature. And the beauty of this approach is: everyone can do it!
Rangkuman dokumen tersebut adalah:
1) Dokumen tersebut merupakan rancangan tahunan pendidikan seni visual untuk tingkatan 4 yang mencakupi berbagai bidang dan teknik seni rupa seperti menggambar, membuat corak, membentuk, dan membuat binaan;
2) Setiap minggu akan diajarkan satu bidang dan teknik tertentu beserta hasil pembelajaran, objektif, dan catatan yang terkait;
3) Pelajaran
Este documento apresenta breves biografias de mulheres influentes que fundaram ou lideram grandes empresas, como Sara Blakely da Spanx, Carmen Tal, Lucy Peng do Alibaba Group, e Arianna Huffington do Huffington Post.
This document is a catalog from Frederick Eberhart featuring large format landscape prints of Virginia and the Mid-Atlantic region. It includes descriptions of various prints available in different sizes and editions, as well as pricing and contact information. The prints are intended for interior designers, architects, and their clients to use in design projects. They convey a sense of regional pride and love of nature through impressive quality and detail.
The document provides a detailed exploration history of the Lone Pine molybdenum property located in northern British Columbia, Canada. It summarizes exploration activities from 1914 to 2010, including geological mapping, geochemical and geophysical surveys, trenching, percussion and core drilling. It also reports results from a mineral resource estimate conducted in 2008 that outlined a measured and indicated resource of 151 million tonnes grading 0.069% molybdenum. Drilling by Bard Exploration from 2007-2010 aimed to expand known mineralized zones and identify new areas, with several intercepts reporting molybdenum and base metal mineralization.
A short presentation for investors interested in junior mining opportunities. This focuses on the Lone Pine Property in northen B.C. Canada. The property just received a positive PEA, and is owned by Bard Ventures (TSX.V:CBS). Updated March 2011.
When sixteen year old Claire Wallhart discovers that she is a Night Hunter, her world is turned upside down. With the help of her instructor. Erik, she will fight off the evil creatures of the night in order to protect all man kind.
El documento discute tres posiciones sobre la definición de salud y enfermedad: biologista, ecologista y social. Cristina Laurell propone una posición social donde la salud-enfermedad es un problema colectivo determinado por procesos sociales. Define la enfermedad como manifestación de dichos procesos sociales que afectan las relaciones entre huésped, agente y ambiente. El objeto de estudio son grupos construidos por características sociales más que biológicas.
This short document contains inspirational quotes about love and living life to the fullest. It advises the reader to not regret their actions as everything helps shape who you become. Additionally, it encourages pursuing happiness, spending time with those who bring joy, laughing frequently, and embracing love for as long as one is alive.
The document introduces the Guitar Musicaid Sliderule, an instructional tool for guitar players. It contains a guitar fingerboard card and slider that reveals note names, fret positions, scale fingerings, key signatures, and chord notes. Users can select a scale and see the fret starting position and successive notes. The sliderule helps players of all ages and abilities learn notes and scales easily. It is priced at $15.99 and available at several Guitar Center locations. In summary, the sliderule is a learning tool that provides a quick way for guitarists to master their instrument and has long-term appeal.
This document discusses algorithms and some basic algorithms used in computer science. It begins by defining an algorithm as a step-by-step method for solving a problem or completing a task. It then describes three common constructs used in algorithms: sequence, decision, and repetition. The document also discusses representations of algorithms using UML diagrams and pseudocode. Finally, it provides examples of basic algorithms like summation, product, and finding the smallest/largest values; and describes the general logic and structure of algorithms for addition, multiplication, and minimum/maximum calculations.
This document contains a Bahasa Melayu exam with multiple sections. Section A contains an image and instructions to write 5 sentences describing the bus stop scene. Section B asks the student to choose one of three essay prompts and write a response of at least 80 words. The prompts are about a school carnival, ways to respect teachers, or an essay ending with a given sentence about realizing teachers care about students. Section C instructs the student to write 4 moral values learned from a given excerpt in under 50 words per value.
This document provides information about a diploma in educational leadership and management from Dar-e-Arqam School in Abbottabad, Pakistan. The diploma aims to equip students with knowledge of educational management and leadership, enable them to apply research and theory to improve their institutions, and allow professional development through reflection. The document outlines several topics that will be covered in the program, including leadership styles, building a conducive learning environment, managing co-curricular activities, human resource management, and developing a strategic vision.
GOLD (Girlguiding Overseas Linked with Development)clare-beorhte
GOLD (Guiding Overseas Linked with Development) is a 3-4 week team project for Girlguiding UK members aged 17-30 to work with partner organizations in countries around the world. Projects focus on training leaders, starting new units, environmental work, teaching English, and more through guiding. Participants gain international experience, friendship, independence and teach/learn skills through teamwork and experiencing a new culture while making a difference. The process involves applying through INTOPS, fundraising, briefings and project planning.
Disinvestment refers to the selling or liquidation of assets or subsidiaries by an organization or government. The key objectives of disinvestment include reducing financial burden on the government, improving public finances, introducing competition, increasing growth, and encouraging wider share ownership. The Indian government initiated disinvestment in 1991 as part of economic reforms to address fiscal deficits and poor performance of public sector enterprises. A series of committees were formed to oversee the disinvestment process and make recommendations. Disinvestment involves reducing government stake while retaining control, while privatization transfers majority ownership and management control to private entities.
Inspired by Steve Ballmer's performance I decided to give an overview of different types of software engineers' characters. Various advices for self-improvement were also provided. Presented at local IT event - IT Weekend.
DISCLAIMER: All images were found either via Google Image Search, or on flickr.com
The passage discusses the importance of summarization for processing large amounts of text data. It notes that automatic summarization systems aim to condense long documents into shorter summaries while maintaining the most important concepts and entities. The challenges of building such systems include identifying the most salient pieces of information, organizing them coherently, and presenting the summary using natural language.
Permaculture dissertation 'A garden for the future'Leen Gorissen
We need to rethink the way in which we produce food. Permaculture designs edible systems in harmony with #nature instead of at the expense of nature. And the beauty of this approach is: everyone can do it!
Rangkuman dokumen tersebut adalah:
1) Dokumen tersebut merupakan rancangan tahunan pendidikan seni visual untuk tingkatan 4 yang mencakupi berbagai bidang dan teknik seni rupa seperti menggambar, membuat corak, membentuk, dan membuat binaan;
2) Setiap minggu akan diajarkan satu bidang dan teknik tertentu beserta hasil pembelajaran, objektif, dan catatan yang terkait;
3) Pelajaran
Este documento apresenta breves biografias de mulheres influentes que fundaram ou lideram grandes empresas, como Sara Blakely da Spanx, Carmen Tal, Lucy Peng do Alibaba Group, e Arianna Huffington do Huffington Post.
This document is a catalog from Frederick Eberhart featuring large format landscape prints of Virginia and the Mid-Atlantic region. It includes descriptions of various prints available in different sizes and editions, as well as pricing and contact information. The prints are intended for interior designers, architects, and their clients to use in design projects. They convey a sense of regional pride and love of nature through impressive quality and detail.
The document provides a detailed exploration history of the Lone Pine molybdenum property located in northern British Columbia, Canada. It summarizes exploration activities from 1914 to 2010, including geological mapping, geochemical and geophysical surveys, trenching, percussion and core drilling. It also reports results from a mineral resource estimate conducted in 2008 that outlined a measured and indicated resource of 151 million tonnes grading 0.069% molybdenum. Drilling by Bard Exploration from 2007-2010 aimed to expand known mineralized zones and identify new areas, with several intercepts reporting molybdenum and base metal mineralization.
A short presentation for investors interested in junior mining opportunities. This focuses on the Lone Pine Property in northen B.C. Canada. The property just received a positive PEA, and is owned by Bard Ventures (TSX.V:CBS). Updated March 2011.
WEST RED LAKE DRILLS 72.6 GRAMS GOLD OVER 3.0 METRES AT ROWAN Michael Dehn
West Red Lake Gold Mines Inc. announced drill results from its recent exploration program on the West Red Lake Project in Ontario, Canada. Highlights included a drill intercept of 72.6 grams per tonne gold over 3.0 meters. The company plans to continue drilling in the second half of May 2017 to further explore and expand the gold zones. Recent drilling was designed to test the depth potential of the Rowan Mine Zones, with some success in expanding mineralization at depth. Assay results also returned additional narrow intercepts of gold mineralization elsewhere within the property.
- Orestone Mining Corp is a gold and copper exploration company focused on its 100% owned Captain project in British Columbia, Canada.
- Drilling at the Captain East target intersected 87m grading 0.230 g/t gold and 0.03% copper, including 43m grading 0.298 g/t gold and 0.09% copper, indicating the potential for a large porphyry system.
- The discovery compares favorably to the nearby Mt. Milligan mine and two other targets on the Captain property remain untested, with 30 locations permitted for further drilling to confirm grades and outline the resource.
This document provides an overview and analysis of Oroco Resource Corp, a Canadian mineral exploration company. It discusses two of Oroco's primary projects: the Cerro Prieto Project in Mexico, which has a gold and silver resource and is fully permitted for construction of an open pit mine, and the Xochipala Project, also in Mexico, which has potential for over 1 million ounces of gold. The document recommends buying Oroco stock, citing low production costs expected from Cerro Prieto, positive economics from preliminary assessments, and additional exploration potential from recent drilling results extending the known mineralization at Cerro Prieto.
Orestone Resources Corp is a gold and copper exploration company focused on its 100% owned Captain project in British Columbia, Canada. Drilling at the Captain East target intersected 87m grading 0.230 g/t gold and 0.03% copper, including higher grade intervals, indicating a large copper-gold porphyry system. Geophysics show three anomalies comparable to the nearby Mt. Milligan copper-gold mine. The discovery supports the interpretation of a multi-intrusive porphyry system strengthening to the east. With further drilling planned, Captain is an early-stage but promising copper and gold prospect.
Mantis Mineral Corp. is a junior exploration company with gold and lithium projects in Ontario, Canada. It has three gold projects - Cree Lake, Orphan Mine, and Foisey - as well as a lithium-rich pegmatite property. Cree Lake has returned high-grade gold samples at surface and in drilling. Orphan Mine was a past producer averaging 0.7 oz/ton gold. Foisey shows a significant gold-bearing structure over 80 meters wide. The lithium property contains rare earth elements including a potential 2 million ton deposit averaging 1.2% lithium. Management has extensive experience in finance and accounting for mining companies.
This document provides an overview of Kincora Copper, a copper and gold exploration company focused on projects in Mongolia. It summarizes Kincora's two main projects, the Bronze Fox and Tourmaline Hills properties, which cover over 40km2 and have intersected high-grade copper and gold mineralization. The document outlines Kincora's exploration strategy for 2012, which aims to define shallow open pit copper resources and continue exploring for deeper high-grade targets, with a planned budget of $5.2 million for drilling and geophysics surveys. Brief biographies of Kincora's management team are also provided, as well as details of its recent acquisition of the adjacent Tourmaline Hills project.
This document provides an overview of Kincora Copper, a copper and gold exploration company focused on projects in Mongolia. It summarizes Kincora's two main projects, Bronze Fox and Tourmaline Hills, which cover over 40km2 and have shown significant porphyry-style copper and gold mineralization. Exploration to date includes over 23,000m of drilling across the projects, intersecting high-grade copper and gold. Kincora plans a $5.2 million exploration program in 2012 to define open pit resource potential and continue exploring for deeper high-grade zones, with a goal of outlining an initial resource by year end.
Updated Resource Received on the Marban Project, Val-d’Or, Quebec Overall Gain of 1.1 million ozs Au Bringing Total to 2.069 million ozs Part of Aurizon Mine’s $20 Million Earn-In
This document summarizes information about Voyager Resources Limited's copper and gold projects in Mongolia. It discusses Voyager's Khongor project, which hosts a large copper-gold porphyry system that is geologically similar to the multi-billion tonne Oyu Tolgoi deposit. Drilling at Khongor has intersected broad zones of mineralization including 50 meters at 1% copper. The document also mentions Voyager's Tsagaan gold project and provides an overview of the company's capital structure and recent activities.
Montoro Resources Inc. owns the Malachite cobalt/copper property in New Brunswick, Canada. Cobalt prices recently hit two-year highs, renewing interest in the property. Previous exploration identified mineralized zones over 600 meters in length and 70 meters deep, containing cobalt, copper, nickel and gold. Tesla's planned lithium-ion battery gigafactory is expected to significantly increase demand for cobalt as batteries contain 2-6 kg of cobalt each. Montoro is seeking partners to continue developing the Malachite property through deep EM surveys and drilling to test below and along strike of known mineralization.
Commerce Resources Corp. (TSXv: CCE, FSE: D7H, OTCQX: CMRZF) reported that it is in receipt of analytical results for the remaining five holes from the 2010 drill program at the Ashram Rare Earth Zone. The Ashram Rare Earth Zone is located at the Company’s wholly-owned Eldor Project within northern Quebec. Highlights include 2.30% TREO over 172.89m.
(1) Mineral Mountain Resources Ltd. has intersected high grade gold mineralization in diamond drill hole GH10-38 in the Cook Porphyry Zone located in the Shining Tree area of Ontario, including 4.66 g/t Au over 14.0m and 13.01 g/t Au over 4.0m. (2) The Cook Porphyry Zone has been subject to previous drilling campaigns which outlined significant gold mineralization and remains open at depth and along strike. (3) The results continue to demonstrate the potential for the Cook Porphyry Zone to host a large gold system that could support either high grade or bulk mining operations.
Discovery Harbour Resources Corp. and its partner Northern Shield Resources Inc. (TSX-V: NRN) are pleased to announce the discovery of significant copper-zinc-silver-(gold) mineralization at the Wabassi Property in northern Ontario after receiving partial assay results from four of the seven holes completed during the winter 2011 exploration program.
Kincora Copper is exploring two copper-gold projects, Bronze Fox and Tourmaline Hills, in Mongolia. They plan to define an initial resource at Bronze Fox in 2012 through further drilling and exploration. Bronze Fox has shown significant near-surface copper and gold mineralization over a large 40km2 area, with some high-grade intercepts. Kincora's exploration will aim to expand known mineralization and define open pit resource potential while continuing to search for deeper higher-grade zones.
Kincora Copper is focused on developing its Bronze Fox and Tourmaline Hills copper-gold projects in Mongolia. In 2012, Kincora plans to define a shallow open pit copper resource at Bronze Fox through a $5.2 million exploration program of drilling, geophysics, and soil sampling. The company aims to continue expanding its land holdings and define both high-grade copper resources at depth and potential gold targets across its large land package near major Oyu Tolgoi deposits. Kincora believes the projects have potential to host large porphyry deposits similar to Oyu Tolgoi given the extensive mineralization footprint discovered to date.
- Recent drilling by Mithril Resources at its East Arunta copper project in the Northern Territory successfully intersected copper and/or zinc mineralization at 5 of the 6 targets tested, with only the Coles Hill North target failing to reach bedrock depth.
- Significant intercepts included 7m at 0.56% copper and 0.25% zinc at the Harry Creek target and 8m at 0.22% copper and 0.26% zinc at Red Rock Bore.
- The results continue to demonstrate the base metal prospectivity of the region, with additional targets requiring further work and MMG also conducting nickel exploration in the area. Mithril is undertaking a strategic review to determine next steps.
The document provides a disclaimer and overview of information regarding the proposed 600 MW Chandgana power plant project in Mongolia. It notes that the information is for general background purposes and has not been independently verified. It warns that the information is subject to changes and updates, and disclaims any liability for inaccuracies or omissions. It also contains cautionary statements regarding forward-looking projections and the risks involved with the development of the power plant.
Prophecy Coal is developing the Chandgana coal field in Mongolia which contains over 1.2 billion tonnes of low-cost, low-ash coal suitable for power generation. The company plans to develop a 600MW power plant at the site in phases, with construction starting in 2013 and power production beginning in 2015 to supply electricity both within Mongolia and for export to China. Prophecy Coal also operates the Ulaan Ovoo thermal coal mine in Mongolia, which has over 208 million tonnes of reserves and expects to increase production to 500,000 tonnes annually by 2012 to supply markets in Mongolia, China, and
Prophecy Coal's proposed Chandgana Power Plant project includes:
1) A 600MW power plant in Mongolia fueled by low-cost, low-ash coal from the nearby 1.2 billion tonne Chandgana coal deposit.
2) Plans for construction to begin in Q2 2013 and the plant to start up in Q2 2015.
3) Potential future expansion up to 3,600MW capacity, partially for electricity export to China utilizing the abundant local coal resources.
1. Prophecy Resources holds over 1.4 billion tonnes of coal resources across two properties in Mongolia.
2. It has secured all necessary permits to construct a mine-mouth power plant at its Chandgana deposit, located 150km from Mongolia's power grid.
3. The company's Ulaan Ovoo mine is currently producing coal, while its large Chandgana project has the potential to help meet Mongolia's growing energy needs and reduce its reliance on costly power imports from Russia.
Prophecy Resources Corp. is developing coal mines and a power plant in Mongolia to meet Asia's growing energy demands. The company owns two coal deposits totaling over 12 billion tons. It has obtained all necessary licenses to build a power plant near its mines, located only 120km from transmission lines. The management team has extensive experience developing large coal mines and power facilities. Investing in Prophecy provides exposure to Mongolia's booming resources sector near major economic growth centers with long-term energy needs.
This financial document summarizes Prophecy Coal Corp's condensed consolidated interim financial statements for the nine month period ended September 30, 2011. It includes the condensed consolidated interim statements of financial position, operations and comprehensive loss, changes in equity, and cash flows. Notes to the financial statements provide details on the nature of operations, basis of preparation of the financial statements, acquisitions and restatements, segmented information, cash and cash equivalents, and other assets and liabilities. Management is responsible for the preparation of the financial statements and maintaining internal controls, while the Board of Directors provides oversight.
This document provides an overview of Prophecy Resources Corp. and its plans to fulfill Asia's growing energy needs through developing the Chandgana Power Plant in Mongolia. It outlines key risks and uncertainties such as obtaining necessary permits and approvals, uncertainties around resource and reserve estimates, and risks associated with operating in foreign jurisdictions. The summary cautions that forward-looking statements are based on assumptions and actual results could differ due to disruptions or other factors.
This document provides information on Prophecy Coal Corp.'s Ulaan Ovoo coal mine and Chandgana coal field projects in Mongolia:
1) Ulaan Ovoo is Prophecy's flagship coal mine in northern Mongolia, with over 20 million tonnes of proven reserves and 208 million tonnes of resources. It has the potential to supply offshore markets in China, South Korea, and Japan as well as domestic markets.
2) Prophecy's Chandgana coal field has over 1.2 billion tonnes of measured and indicated resources that could supply a proposed large-scale power plant project. Phase 1 would generate 600MW for Mongolia and phase 2 could export
Mongolia faces an increasing power deficit as its economy grows at over 10% annually. It currently relies on costly power imports from Russia but needs new domestic generation. Prophecy Coal proposes the 600 MW Chandgana Power Plant, fueled by low-sulfur coal from its nearby mine. The plant aims to reduce emissions and costs while increasing energy independence and potential exports. Prophecy has operated in Mongolia for over a year and requests government support to quickly approve permits to begin construction in 2013 and help meet rising demand.
This document provides the condensed consolidated interim financial statements for Prophecy Coal Corp. for the six month period ended June 30, 2011. It includes statements of financial position, operations and comprehensive loss, changes in equity, and cash flows. Significant notes discuss the company's operations, basis of preparation of the financial statements, acquisitions, segmented information, cash balances, receivables, investments, equipment, properties, loans, share capital, share-based payments, risk management, related party transactions and commitments. The company reported a net loss of $6.8 million for the six month period.
This document provides financial statements for Prophecy Resource Corp. as of September 30, 2006. It includes an auditors' report stating the financial statements fairly represent the company's position. The balance sheet shows total assets of $310,106 including cash, mineral properties, and deferred exploration costs. Total liabilities are $23,292 and shareholders' equity is $286,814. The statement of operations shows a net loss of $98,686. Cash flow statements indicate $301,942 was provided by financing activities including share issuances. Notes provide details on the company's operations, accounting policies, mineral properties, and deferred finance fees.
The document provides an overview and history of exploration activities for the OK Property in British Columbia, which Prophecy Resource Corp. has an option to earn a 60% interest in. Key points include:
- Prophecy acquired an option to earn a 60% interest in the OK Property from Eastfield Resource Corp. in 2006 and has since conducted exploration programs including soil sampling, road construction, and drilling.
- The OK Property has a long history of exploration dating back to the 1960s, with over 14,000m of drilling and various geophysical and geochemical surveys conducted by multiple companies.
- Prophecy's most recent work in 2006 expanded road access and located drill sites from previous campaigns, with
- Prophecy Resource Corp. released unaudited financial statements for the quarter ended December 31, 2006. The statements have not been reviewed by an auditor.
- During the quarter, the company reported a net loss of $60,207 and ended with $135,119 in cash. The loss was primarily due to $55,304 in stock-based compensation for management fees.
- Cash flows included $4,822 used for deferred exploration costs and $19,000 used for deferred finance fees, while $4,833 was received from related parties.
Prophecy Resource Corp. acquired an option to earn a 60% interest in the OK Property, a copper-molybdenum exploration property in British Columbia. Prophecy completed an initial public offering, raising $550,000 to fund exploration of the OK Property. Previous exploration at the OK Property between 1966-1977 included over 14,000 meters of drilling and identified copper and molybdenum mineralization. Prophecy's recent work in 2006 included soil sampling, road construction, and facility construction to improve access for planned future exploration drilling.
- Prophecy Resource Corp. provided unaudited interim financial statements for the period ending March 31, 2007.
- The financial statements were prepared by management as the company's independent auditor did not perform a review.
- As of March 31, 2007 the company had cash of $478,299 and mineral properties and deferred exploration costs totaling $153,871. The company reported a net loss of $55,286 for the three months ended March 31, 2007.
Prophecy Resource Corp. is a mining exploration company focused on acquiring base and precious metal properties in British Columbia. It acquired an option to earn a 60% interest in the OK copper property located north of Powell River, BC from Eastfield Resources. Prophecy completed an initial public offering in February 2007, raising $550,000 to fund exploration of the OK property. Previous exploration between 1966-1977 included over 14,000 meters of drilling and identified copper and molybdenum mineralization. Prophecy plans to begin exploration of the OK property in May 2007 funded by its IPO and a private placement.
Prophecy Resource Corp. released unaudited interim financial statements for the period ended June 30, 2007. The statements included a balance sheet showing assets of $921,598 including cash of $461,966, mineral properties of $54,000, and deferred exploration costs of $279,716. The statements also showed a net loss of $30,744 for the quarter and $146,237 for the nine months ended June 30, 2007. Cash flow statements showed $103,812 used in operating activities for the quarter and $184,052 for the nine months.
Prophecy Resource Corp. acquired an option to earn a 60% interest in the Okeover copper-molybdenum property located in British Columbia from Eastfield Resources Ltd. by spending $1 million on exploration over 4 years and making cash payments totaling $110,000. Previous exploration between 1966-1977 included over 14,000 meters of drilling and identified copper and molybdenum mineralization. Prophecy completed a $102,000 exploration program in 2006 including soil sampling and road construction in preparation for a planned drilling program.
The auditors' report summarizes that they audited Prophecy Resource Corp.'s financial statements for the years ended September 30, 2007 and 2006. The auditors conducted their audits in accordance with Canadian generally accepted auditing standards and determined that the financial statements present fairly the financial position of the company.
Optimizing Net Interest Margin (NIM) in the Financial Sector (With Examples).pdfshruti1menon2
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Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
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1. PROPHECY RESOURCE CORP.
MANAGEMENT’S DISCUSSION AND ANALYSIS
OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
For the three month period ended June 30, 2008
The following discussion and analysis should be read in conjunction with the Interim Financial Statements for
Prophecy Resource Corp (the “Company”) and related notes for the nine and three month periods ended June 30, 2008.
All dollar amounts included therein and in the following management discussion and analysis (“MDA”) are stated in
Canadian funds. This discussion is based on information available as at August 12, 2008.
This discussion contains forward-looking statements that involve risks and uncertainties. Such information, although
considered reasonable by the Company’s management at the time of preparation, may prove to be inaccurate and actual
results may differ materially from those anticipated in the statements made.
The Company was incorporated under the Business Corporations Act (British Columbia) on February 9, 2006 under
the name "Prophecy Resource Corp." Prophecy is focused on the acquisition of base and precious metal exploration
properties primarily in the Province of British Columbia. The Company has no subsidiaries.
Overview
On March 8, 2006 the Company acquired Goldrush Resources Ltd.’s option with Eastfield Resources Ltd. whereby
Goldrush had the right to earn an interest in mineral exploration claims located north of Powell River in British
Columbia (the “Okeover Property”) from Eastfield. James (Bill) Morton, a director of the Company, is the president
and chief executive officer of Eastfield. The Company can earn a 60% interest in the Okeover Property from Eastfield
by spending up to $1,000,000 in exploration on the Okeover Property within four years of the date of the agreement
and by making cash payments totalling $110,000, of which $35,000 has been paid. To acquire the option from
Goldrush, the Company issued 100,000 shares to Goldrush and made cash payments totalling $15,000. Upon the
Company earning its 60% interest in the Okeover property, the Company and Eastfield will form a joint venture for the
further exploration and development of the Okeover property, with Prophecy becoming the operator.
The Okeover Copper-Molybdenum Property
The following represents information summarized from a technical report (the "Okeover Property Report") dated
October 5, 2006 entitled "Technical Report on the OK Copper Property", prepared by N.C. Carter, Ph.D. P. Eng.
pursuant to the provisions of National Instrument 43-101 ("NI 43-101").
N.C. Carter is a "qualified person" within the meaning of NI 43-101. N.C. Carter is independent of the Company
applying all of the tests in section 1.5 of NI 43-101 and has not had prior involvement with the Okeover Property that
is the subject of the Okeover Property Report.
The Okeover Property (copper-molybdenum) consists of eleven contiguous legacy and cell mineral claims located in
the Vancouver Mining Division of south western British Columbia, 25 kilometres north of Powell River and 145
kilometres northwest of Vancouver. Collectively, the claims cover an area of approximately 5,233 hectares between
latitudes 49059.5’ and 50004.6’ North and longitudes 124037.0’ and 124041.2’
All claims are registered in the name of Eastfield and are subject to a March 4, 2003 option agreement with Robert
Edward Mickle of Likely, B.C. whereby Eastfield has the right to earn a 100% interest in the property subject to a
2.5% net smelter royalty interest which may be purchased from the vendor for $2 million on commencement of
commercial production. Cash payments to the vendor totalling $88,000 (of which $69,625 has been paid) over a five
year period are due at six month intervals in addition to the annual issuance of Eastfield securities amounting to
125,000 shares over the term of the agreement. The payments totalling $88,000 are payable by Prophecy pursuant to
the terms of the agreement between Prophecy and Eastfield.
2. 2
Copper and molybdenum mineralization was discovered in creek bottoms in the central part of the Okeover Property in
1965. Between 1966 and 1977, seven companies carried out a number of geological, geochemical and geophysical
surveys, mechanical trenching and more than 14,000 metres of drilling. Companies working on the property included
Noranda Exploration Company Ltd., Asarco Exploration Company of Canada Limited, Falconbridge Nickel Mines
Ltd., Duval International Corporation, Granite Mountain Mines Ltd., Sierra Empire and Western Mines Ltd.
Drilling completed between 1966 and 1977 consisted of 13,831.5 metres of diamond drilling in 82 holes and 12
vertical percussion holes totalling 732 metres. Average diamond drill hole length was 169 metres and the deepest hole
drilled was 363 metres in length. Vertical percussion holes were drilled to 61 metres depths.
2007 Exploration Program (first phase)
As recommended by N.C. Carter, P. Eng, the Company began a first phase program in spring 2007.
In July, 2007 Prophecy received the results from the first four drill holes of a seven hole program at the Okeover
property. These four drill holes were designed to expand the current resources of the North Lake Zone.
Hole OK-07-04, drilled near the western boundary of the North Lake Zone, intersected an aggregate intercept of 76
metres grading 0.34% copper and 0.020% MoS2, including an intercept of 19 metres grading 0.42% copper and
0.027% MoS2. Hole OK-07-04 was drilled adjacent to and beneath a hole completed in 1972 with much of the
mineralized interval, including the higher grade section, occurring beneath the 1972 hole, which bottomed at a depth of
97 metres.
Hole OK-07-02, drilled approximately 300 metres to the east of the area corresponding to the North Lake resource,
intersected 23 metres grading 0.24% copper and 0.031% MoS2 at the bottom of the hole, establishing that
mineralization is very much open ended to the east and suggesting that the North Lake Zone may be considerably
larger than the 2006 estimate. In addition, molybdenum grades appear to be increasing to the east.
A summary of results of the first four holes is as follows:
Hole OK-07-01
Excluding several internally dilutive dykes greater than 4 metres in thickness:
Beginning Ending Aggregate Copper MoS2
mineralization % %
29 m 203 m 147 m 0.18 0.009
Mineralized intervals in OK-07-01 in detail
From To Interval Copper MoS2
M M M % %
29 47 18 0.16 0.010
56 90 34 0.17 0.008
92 132 40 0.17 0.009
138 166 28 0.17 0.007
171 191 20 0.24 0.010
196 203 (end) 7 0.19 0.019
OK-07-01 is located approximately 75 metres to the east of the 2006 North Lake Zone (south side).
3. 3
Hole OK-07-02
From To Interval Copper MoS2
M M M % %
165 188 (end) 23 0.24 0.031
OK-07-02 is located approximately 350 metres to the east of the 2006 North Lake Zone.
Hole OK-07-03
Excluding several internally dilutive dykes greater than 4 metres in thickness:
Beginning Ending Aggregate Copper MoS2
mineralization % %
73 m 188 m 75 m 0.19 0.029
Mineralized intervals in OK-07-03 in detail
From To Interval Copper MoS2
M M M % %
73 116 43 0.17 0.031
123 135 12 0.17 0.020
151 156 6 0.27 0.032
160 170 10 0.27 0.030
176 179 3 0.24 0.020
187 188 (end) 1 0.19 0.028
OK-07-03 is located approximately 50 metres to the east of the North Lake Zone (north side). The interval from 73.7
metres to 74.5 metres returned grades of 1.26% copper and 0.639% MoS2.
Hole OK-07-04
Excluding several internally dilutive dykes greater than 4 metres in thickness:
Beginning Ending Aggregate Copper MoS2
mineralization % %
41 m 141 m 76 m 0.34 0.020
Mineralized intervals in OK-07-04 in detail
From To Interval Copper MoS2
M M M % %
41 61 20 0.35 0.029
72 91 19 0.42 0.027
104 141 37 0.29 0.012
Drill Hole OK-07-04 is located near the western boundary of the North Lake Zone, adjacent to and underneath a hole
drilled in 1972, hole 72-16, which bottomed at 97 metres.
Holes OK-07-01 to OK-07-04 have confirmed that mineralization in the North Lake Zone has not been constrained by
depth and remains open on the eastern and western edges, offering substantial opportunities for expansion of the
resource. Several sites have been prepared in the North Lake Zone, where the company plans to resume drilling in the
spring of 2008.
The final drill program of 2007, which started in late October, was completed on December 15, 2007. This three hole
drill program was designed to test the South Breccia Zone located 3,500 metres south of the North Lake Zone.
4. 4
The South Breccia area is a hydrothermal breccia first recognized in 1979. Between 1966 and 1977, seven
corporations, including Noranda, Falconbridge and Asarco Exploration completed 14,000 metres of diamond drilling at
Okeover. In 1979, two years following these campaigns, logging activities exposed the south Breccia Zone
approximately 3.5 kilometres south of the North Lake Zone. In 1979, Aquarius Resources Ltd. completed three holes
in this then newly discovered area (205 metres in total) with results which included 1.49% Copper over 9 metres in
hole 79-2 and 0.49% Copper over 21 metres in hole 79-3. In 1996, Canquest Resource Corp. drilled a single 154 metre
deep hole with the strongest mineralization in that hole (0.21% Cu) occurring at the bottom. A review of this drill hole
indicates that it may have stopped short (to the east) of the South Breccia Zone. Geological mapping of the area
peripheral to the South Breccia discovery outcrop indicates that brecciation and silicification extend over an area of at
least 300 metres by 600 metres, offering substantial potential for discovery.
Three holes were completed in December 2007 at the South Breccia Zone. A total of 782 metres of drilling was
completed in these three holes and resulted in the discovery of a new area of copper- molybdenum mineralization.
Highlights of the drilling include hole 07-08 with an intercept of 39.7 metres grading 0.045% MoS2 and 0.27% Cu,
including 25.4 metres grading 0.068% MoS2 and 0.25% Cu.
Hole 07-08 was angled to the south of the mineralized area and the area beyond this point in this direction has not yet
been drilled. A map of the Okeover property showing the drilling completed by Prophecy at the South Breccia Zone
can be viewed on our website at www.prophecyresource.com.
A summary of results is as follows:
Hole From To Interval MoS2 Cu Cu
(metres) (metres) (metres) % % Equiv. (1)
07-08 63.0 102.7 39.7 0.045 0.27 0.54
Including 63.0 88.4 25.4 0.068 0.25 0.66
07-09 33.0 69.4 36.4 0.010 0.27 0.33
And 84.6 114.6 30.0 0.017 0.36 0.47
07-10 No significant results
(1) Based on copper priced at $2.50 per pound and molybdenum at $25 per pound without provision for recoveries or
operating costs
Drilling completed in early 2007 at Okeover included four holes completed in the North Lake Zone, which hosts a NI
43-101 compliant inferred resource of 86.8 million tonnes grading 0.31% copper and 0.014% MoS2 as calculated in
late 2006 by N.C. Carter, Ph.D., P. Eng. Three of these holes were completed as step outs (average 75 metres) to the
east and one as a deeper test beneath the western area of the current resource. All four holes encountered significant
mineralization with the three eastern step outs all ending in mineralization grading in excess of 0.19% copper and
0.017% MoS2 (the approximate cut off grade for the resource) confirming that the North Lake Zone is open for
expansion to the east and at depth. Ten additional drill sites were constructed in the North Lake area during October
and November 2007 and this area will be the subject of additional drilling scheduled to commence in May, 2008.
A rock exposure located approximately 400 metres southwest of the North Lake Zone returned an analysis of 0.17 %
Mo (0.288% MoS2 ) and greater than 1000 ppb rhenium. This result encouraged a reanalysis of several other samples
which had returned higher molybdenum values. A higher grade intercept in hole 07-03 which had returned an assay of
1.26% copper and 0.38% Mo (0.63% MoS2 ) over 0.8 metres (73.7-74.5 metres) returned a rhenium analysis also
greater than 1000 ppb which is the upper limit that the assay lab, Acme Analytical Laboratories Ltd., is equipped to
provide. The two samples are approximately 1200 metres distant from each other. Acme Analytical Laboratories Ltd is
currently reviewing the availability of other laboratories to provide an unconstrained rhenium value for these samples
which is considered to be potentially significant given the current rhenium price of $10,700 per kilogram. Rhenium is
reputed to have been an important by product for the Island Copper Mine (copper, molybdenum and gold) located on
Vancouver Island and operated by BHP Minerals Canada until 1994.
5. 5
Exploration of the Okeover property is being conducted under the supervision of J.W. (Bill) Morton, P.Geo., a director
of the Company and qualified person within the context of National Instrument 43-101. Analyses were performed by
Acme Analytical Laboratories, Vancouver, BC. a registered facility, using Aqua Regia digestion followed by multi-
element ICP-MS analysis.
On May 22, 2008 Prophecy initiated a six hole (1,449 metre) diamond drilling program at Okeover. The
predominant thrust of this program was to significantly expand the known mineral resource at the North Lake
Zone, which is one of eight known areas of significant copper-molybdenum mineralization on the Okeover
project. Five of the six holes were completed as step outs to the south and west sides of the existing resource
area at North Lake, with drill results being announced July 28, 2008.
Highlights of the 2008 drill program include Hole OK-08-03, which intersected 45.5 metres grading 0.33%
copper and 0.003% molybdenum, including 12 metres grading 0.41% copper and 0.001% molybdenum.
Hole OK-08-03 was drilled 90 metres to the south of the nearest hole in the current North Lake resource area
and creates an open southern edge for future expansion of the resource area in this direction.
At Okeover, the objectives of the recent program were achieved and expanded the mineralized area of the
North Lake Zone (calculated in 2006 by N.C. Carter, Ph.D., P. Eng to contain 86.8 million tonnes grading
0.31% copper and 0.014% MoS2) a substantial distance to the south. Prophecy plans to incorporate the drill
results from this current program and last year’s drilling into an updated North Lake resource estimate to be
completed later this year.
A summary of the drill results from the 2008 exploration programs is as follows:
Hole Intercept (m) From To (m) Cu Mo
(m) % %
Ok-08-01 57.0 113.0 170.0 0.30 0.003
Including 42.0 122.0 164.0 0.33 0.003
Ok-08-02 26.3 72.5 98.8 0.26 0.002
And 16.5 107.3 123.8 0.33 0.003
Ok-08-03 198.5 39.5 238.0 0.16 0.001
Including 45.5 39.5 85.0 0.33 0.003
Including 12.0 73.0 85.0 0.41 0.001
Ok-08-04 2.2 98.2 98.0 0.21 0.004
Ok-08-05 46.4 2.1 48.5 0.10 0.001
Hole OK-08-06, drilled three kilometres further to the south, returned only anomalous values, with individual
three metres sample intervals returning values to 0.28% Cu and 0.029% Mo.
With this drill program now complete, Prophecy has spent over $1,000,000 in exploration at Okeover and
satisfied its work commitment to earn a 60% interest from Eastfield Resources Ltd. (TSX.V: ETF).
Prophecy believes that well situated copper-molybdenum projects presently constitute a high potential
opportunity for venture capital investment, with copper and molybdenum both at record prices (Cu currently
at ± $3.75 a pound and molybdenum at ± $32). Moreover, many of the recent takeovers of resource
exploration companies, such as Northern Peru Copper Corp. in December 2007, Tyler Resources Inc. in
January, 2008 and Global Copper Corp. in April 2008 all occurred as a consequence of these companies
developing lesser known copper-molybdenum resources to critical sizes.
6. 6
During the three month period ended June 30, 2008 the Company spent $287,105 on exploration of the Okeover
property. This was comprised of geological consulting of $30,504, assays and drilling of $189,072 and field expenses
of $67,529. As of June 30, 2008 the Company has spent a total of $1,046,240 on exploration of the Okeover property.
Management’s Discussion and Analysis
The following discussion and analysis is based on the Company’s results of operations and financial position and
should be read in conjunction with the interim financial statements for the three month period ended June 30, 2008.
The Company holds an option to earn a 60% interest in eleven contiguous mineral claims in British Columbia totaling
approximately 3,950 hectares called the Okeover Property. The Company is a resource development company focused
on the acquisition and exploration of mineral properties and therefore has no regular cash flow from operations. The
level of operations has been determined by the availability of capital resources. To date, private placements have
provided the main source of funding.
Results of Operations
Operating expenses for the three month period ended June 30, 2008 totaled $33,994 as compared to $32,750 during the
same period a year prior. The significant expenditures were as follows:
During the three month period ended June 30, 2008 the Company incurred $4,813 for office, rent and expenses, which
was comparable to the $4,867 incurred during the same period a year prior.
There were no professional fees incurred during the three month period ended June 30, 2008. This compares to
professional fees of $8,076 incurred during the three month period ended June 30, 2007 for audit and accounting fees
subsequent to the Company’s listing on the TSX Venture Exchange in February of 2007.
During the three month period ended June 30, 2008 the Company incurred stock-based compensation expense, a non-
cash expense, of $3,940 for 200,000 options granted to consultants during a prior period, a portion of which vested
during the current period. There was no stock-based compensation expense charged during the same period a year
prior.
The Company incurred $1,658 for transfer agent and filing fees during the three month period ended June 30, 2008.
This is reduced from the $6,868 incurred for transfer agent and filing fees during the three months ended June 30, 2007
when the Company incurred additional filing fees related to the Company’s public listing in February 2007.
During the three month period ended June 30, 2008 the Company incurred $19,083 for shareholder communications
expenses, which included web site maintenance, consulting, news release dissemination and advertising. This
compares to $6,868 incurred during the same period a year prior, when all investor relations activity was conducted by
management.
Management fees of $4,500 incurred during the three month period ended June 30, 2008 were unchanged from the
same period a year prior.
There were no travel expenses incurred during the three month period ended June 30, 2008. This compares to travel
expenses of $1,655 incurred during the same period a year prior for property visits.
During the three month period ended June 30, 2008 the Company earned interest income of $2,775 on short-term
investments and cash on hand. This compares to $2,006 earned on cash on hand during the three month period ended
June 30, 2007.
7. 7
As a result of the foregoing, the Company incurred a net loss before income taxes for the three month period ended
June 30, 2008 of $31,219 as compared to net loss of $30,744 for the comparable period a year prior.
Summary of Quarterly Results
Q3-08 Q2-08 Q1-08 Q4-07 Q3-07 Q2-07 Q1-07
Revenue Nil Nil Nil Nil Nil Nil Nil
Net Income (Loss) (31,219) 34,391 (44,781) (16,878) (30,744) (55,286) (60,207)
($)
Per Share (Loss) ($) (0.01) 0.01 (0.01) (0.01) (0.01) (0.01) (0.01)
A “Summary of Quarterly Results” has only been prepared for the four quarters of fiscal 2007 and the first three
quarters of fiscal 2008 as the Company was private during the fiscal year ended September 30, 2006 and did not
prepare any quarterly financial reports during that period.
The loss during the second quarter of fiscal 2007 (the three month period ended March 31, 2007) decreased to $55,286
from the loss of $60,207 incurred during the prior fiscal quarter primarily due to the elimination of stock based
compensation expense, a non-cash item, as there were no stock options granted or vested during the current period.
During the first quarter of fiscal 2007, the granting of stock options to directors resulted in a charge for stock-based
compensation of $55,304 during that period. The elimination of stock-based compensation expense during the second
quarter was offset by an increase in transfer agent and filing fees to $28,800 from the $1,162 incurred during the first
quarter due to the completion of the Company’s Initial Public Offering during the second period and the subsequent
listing on the TSX Venture Exchange. As it became a public company in February 2007, Prophecy also incurred
additional expenses for shareholder communications of $8,516 during the second quarter, a portion of which will
continue to be incurred during subsequent quarters.
The loss for the third quarter of fiscal 2007 decreased to $30,744 from the $55,286 incurred during the second quarter
of fiscal 2007 primarily due to a reduction in transfer agent and filing fees to $6,868 from the $28,800 incurred during
the second quarter for completion of the Company’s Initial Public Offering and listing on the TSX Venture Exchange.
The loss for the fourth quarter of fiscal 2007 was reduced to $16,878 primarily due to recording a future income tax
recovery of $34,680 during the period as a result of the issuance of 850,000 flow-through shares during fiscal 2006.
This served to reduce the loss for the period to $16,878 from the $51,558 that would have been recorded otherwise,
with the increase from the $30,744 incurred during the third quarter the result of additional stock-based compensation
expense, a non-cash item, of $26,392 recorded during the fourth quarter for options granted to directors earlier in the
year.
The loss for the first quarter of fiscal 2008 increased to $44,781 primarily due to the elimination of an allowance for
future income tax recovery of $34,680 incurred during the fourth quarter of fiscal 2007 as a result of the issuance of
850,000 flow-shares during fiscal 2006 and renounced during fiscal 2007. This served to reduce the loss for the fourth
quarter period to $16,878 from the $51,558 that would have been recorded otherwise, with the decrease in net loss to
$44,781 for the first quarter of 2008 due primarily to a reduction in charges for stock based compensation to $1,313
from the $26,392 incurred during the fourth quarter, offset by an additional charge of $8,000 for investor relations
consulting incurred during the first quarter of fiscal 2008.
The Company recorded income for the second quarter of fiscal 2008 of $34,391 primarily due to recording a future
income tax recovery of $92,380 during the period as a result of the issuance of 2,200,000 flow-through shares during
the prior calendar year. This served to offset the loss for the period of $57,989 that would have been recorded
otherwise, with the increase from the $44,781 incurred during the first quarter of 2008 the result of additional
professional fees incurred during the second quarter for preparation of the Company’s audited financial statements for
the prior fiscal year.
8. 8
As there was no future income tax recovery in the third quarter of fiscal 2008, the Company incurred a loss of $31,219
for the period. When compared to prior fiscal periods, this reduced loss was primarily as a result of reductions in
expenditures for professional fees and transfer agent and filing fees, offset by additional expenditures for consultants
providing shareholder communications services.
Liquidity and Capital Resources
Prophecy is in the development stage and therefore has no regular cash flow. As at June 30, 2008, the Company had
working capital of $236,686, inclusive of cash and short-term investments on hand of $296,137. This compares to
working capital of $249,708 at September 30, 2007, inclusive of cash on hand and short term investments of $203,005.
At June 30, 2008 the Company had current assets of $321,559, total assets of $1,463,299 and total liabilities of
$84,873. The Company has no long-term debt. There are no known trends in the Company’s liquidity or capital
resources.
The principal assets of the Company are its mineral exploration properties, amounting to $1,135,240 as at June 30,
2008.
The increase in cash during the three month period ended June 30, 2008 of $12,390 was primarily due to cash provided
by operations of $39,495 and cash of $260,000 received on the redemption of short-term investments, offset by
property exploration and acquisition expenditures of $287,105.
The Company had sufficient funds on hand at June 30, 2008 to fund its operating expenses for the balance of the
current fiscal year as well as conduct additional exploration at its Okeover property. In November, 2007 the Company
completed a private placement of flow-through securities in November 2007 for gross proceeds of $507,500 to fund
phase II exploration work on its Okeover property during fiscal 2008. This enabled Prophecy to earn its 60% interest
in the Okeover property, following which Eastfield and the Company will form a joint venture to fund further
exploration on the Okeover project in proportion to their respective interests. At that time, the Company may have to
obtain other financing or raise additional funds in order to continue to fund its share of Okeover exploration expenses.
Although the company has been successful in the past in obtaining financing through the sale of equity securities, there
can be no assurance that the Company will be able to obtain adequate financing in the future or that the terms of such
financing will be favorable. Failure to obtain such additional financing could result in the delay or indefinite
postponement of further exploration and development of the Okeover property.
Cash flow to date has not satisfied the Company’s operational requirements. The development of the Company may in
the future depend on the Company’s ability to obtain additional financings. In the past, the Company has relied on the
sale of equity securities to meet its cash requirements. Future developments, in excess of funds on hand, will depend on
the Company’s ability to obtain financing through joint venturing of projects, debt financing, equity financing or other
means. There can be no assurances that the Company will be successful in obtaining any such financing or in joint
venturing its property.
Related Party Transactions
During the three month period ended June 30, 2008, $4,500 was paid to a private company wholly-owned by Stuart
Rogers, a director and Chief Financial Officer of the Company, for office rent and administration services provided to
the Company.
During this same period, $4,500 was paid to James Brown, the President and a director of the Company, for
management services provided. In addition, during the period a total of $208,247 was paid or accrued to a private
company in which a director, Bill Morton, is a 50% partner for exploration work done on the Company’s property.
Included in this amount are geological consulting fees of $2,040 which were paid to this same director.
9. 9
These amounts were incurred in the ordinary course of business.
Investor Relations
The Company incurred expenditures of $19,083 on investor relations during the three month period ended June 30,
2008. This figure was comprised of $978 for dissemination of news releases, $8,000 for consulting services, $9,737
for advertising and $368 for web site maintenance.
Contingencies
The Company is aware of no contingencies or pending legal proceedings as of August 12, 2008.
Equity Securities Issued and Outstanding
The Company had 11,100,000 common shares issued and outstanding as of August 12, 2008. In addition, there were
650,000 incentive stock options and a total of 1,583,000 share purchase warrants outstanding as of August 12, 2008.
Disclaimer
The information provided in this document is not intended to be a comprehensive review of all matters concerning the
Company. It should be read in conjunction with all other disclosure documents provided by the Company, which can
be accessed at www.sedar.com. No securities commission or regulatory authority has reviewed the accuracy or
adequacy of the information presented herein.
Certain statements contained in this document constitute “forward-looking statements”. Such forward-looking
statements involve known and unknown risks, uncertainties and other factors which may cause the actual results,
performance, or achievements of the Company to be materially different from any future results, performance, or
achievements expressly stated or implied by such forward-looking statements. Such factors include, among others, the
following: mineral exploration and development costs and results, fluctuation in the prices of commodities for which
the Company is exploring, competition, uninsured risks, recoverability of resources discovered, capitalization
requirements, commercial viability, environmental risks and obligations, and the requirement for obtaining permits and
licenses for the Company’s operations in the jurisdictions in which it operates.